FCF June 2014 - 02 cyber case studies

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  • 1. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk Go further The Business of Cybercrime° Fraud & Cybercrime Forum Arun Chauhan & Toyosi Ajimoko The Business of Cybercrime 19 May 2014
  • 2. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk Overview • Fraud & risk services • Introduction to cybercrime • The threat of cybercrime • Information theft • Examples • Prevention advice • Fraud response • The legal response • Q&A 2
  • 3. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • F R U D • Finding out what went wrong when all seemed right Fraud and risk services A
  • 4. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • Fraud prevention advice & training • Fraud investigation • Reaction & recovery 4 Fraud and risk services
  • 5. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk Cybercrime is a term used for any illegal activity that uses a computer or the internet as its primary means of commission to include any activity that uses a computer as a storage device. 5 What is Cybercrime?
  • 6. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • 80% of us are referenced online • 4.1bn installed email accounts by 2015 – corporate accounts 25% • Corporate email users send and receive an average of 120 emails per day (2014) • 1.73bn social media users worldwide (2012) – 2.55bn forecast in 2017 • 1.19bn people logging into Facebook per month (2013) • 500m tweets per day (October - 2012) • 74% of email traffic sent in 2012 was spam • 16% of these spam emails will be delivered to corporate email inboxes despite spam filters (2014) filters 6 Why is Cybercrime such an issue
  • 7. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • Cybercrime is estimated to cost the UK economy £27bn per annum (Cabinet Office & Detica, 2011) • 75% of UK organisations experienced data loss in the year up to June 2011 (Checkpoint Software Technologies survey) • Government Communications HQ guidance • The number of High Court cases relating to the theft of confidential information rocketed by 250pc between 2010 and 2012 – 167 cases in 2012 7 The impact of Cybercrime
  • 8. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk 8 The practical impact of Cybercrime Loss of revenue Management time Impact on productivity Network failures Investor loss of confidence Reputational loss Compromise & loss of data Loss of IP Impact on Business
  • 9. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • Information theft • Extortion • Corporate identity theft • Reputation attacks 9 Examples of Cybercrime
  • 10. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • Theft of confidential data • Theft of intellectual property 10 Information theft
  • 11. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk Internal • Password protection • Access levels • Temporary staff • Mobile technology • Social media 11 Information theft methodology
  • 12. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk External • Organised crime groups • Competitors 12 Information theft methodology
  • 13. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • Theft of data • Account takeover fraud • What would you do? Examples 13
  • 14. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • Risk registers • Fraud prevention plans • Ongoing training 14 Prevention
  • 15. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • Fraud response plans • IT response • Insurance • Reassess risk 15 Response
  • 16. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • Act quickly • Can the perpetrators be identified • Set out your objectives • Financial means of the target defendants 16 The legal response
  • 17. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk • Injunctions • Search Orders • Non-Party Disclosure Orders 17 The legal response
  • 18. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk Q&A • Any questions or issues to discuss?
  • 19. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk About DWF • … the UK’s fastest growing top 20 law firm. • With over 2,500 people across 12 locations, we have the scale and expertise to address all our clients’ legal needs. • Our deep industry sector knowledge, across both our insurance and commercial businesses, allows our lawyers to anticipate client issues, create opportunities and provide the information our clients need to make critical business decisions. • We have come along way in a very short time and our ambition is to be one of the UK’s leading national business law firms, delivering the best possible practical, commercial advice to clients. 19
  • 20. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk Our firm is driven by its core Values which focus on: 20 Values Our Clients Our People Our Community Our Environment
  • 21. Private & Confidential. Not for distribution. ©DWF LLP 2012 www.dwf.co.uk Contact Details Arun Chauhan DWF LLP One Snowhill Snow Hill Queensway Birmingham B4 6GA Email: Arun.Chauhan@dwf.co.uk DD: 0845 404 2391 Mobile: 07739 630750
  • 22. DWF is the business law firm with industry insight. Our legal experts combine real commercial understanding and deep sector knowledge to help clients anticipate issues, create opportunities and get the outcomes they need. We’ll deliver the results that help you go in the right direction – wherever you are. www.dwf.co.uk Go further° ©DWF LLP 2013 DWF LLP is a limited liability partnership registered in England and Wales with registered number OC328794.